Possible head and shoulders pattern on FB & Amazon - its not confirmed on both.
The ideal setup is that both decrease in value below the "neckline" marked in blue/red in each respective chart.
Although not guaranteed the price can then increase in value, coming back up to the neckline, where we see a rejection and continuation of the downwards breakout this is...
Support Trend Line that held FB on it's bullish run since mid-march has been broken yesterday due to the Anti-Trust news/rumors sell off. Look to enter a half position on FB 9/25 PUTS if FB fail to hold over 255-256 or if it can't break and hold over 261-262.
PT @251-252 and 247.5-249
Ideal PT @241.5-242.25
Conservative SL @260.5-261
Max SL @264.10
The current upward channel has been good signs for you bullish bag holders as we did break higher overall.
We need to keep in mind of were we currently sit on the upward channel though.
3 previous touches on this level of Resistance signaled selloffs to occur.
The green horizontal line is previous breakout for a new high, we yet to retest that price.
I called out FB Puts on Nuly 1st in the group chat when everyone was thinking Stonks only go up, but say FB has 3 consecutive green days, and knew it will have to come back down soon, because thats logical, I called puts at about 238 the target for it is still 222.26 because there is also a gap that has to be filled.
The group chat is having a 20% sell for the...
$FB has room to volume with Friday performance along with the rest of last week’s. The name is getting weaker and weaker as it continues to make no changes to its platform to support a movement. Turn advertisers away from the platform to something like $TTD, $ROKU and others.
🐻 Could be an opportunity for bears to step up as we approach a key upward channel Resistance level.
This is 4th time hit on channel Resistance and followed by a very strong extended rebound.
I'd look for a long term play on the 3day to turn over. Look for a lower low breakout to print on daily.
$240 is key Resistance price level.
The daily seems to be...